[UPDATED] Dubsmash has added $9.6 million in funding to expand its popular music video lip-sync app. Fan generated music videos have become a major marketing tool for labels and artists. But will revenue to rights holders follow?

_____________________________

Berlin based Dubsmash has added $9.6 million in series B funding to expand its viral music video lip-sync app. The startup had previously raised $6 million.

Sunstone Capital led the new round, with participation from Index Ventures, Balderton Capital, Eniac Venture and Lowercase Capital. Index ventures, which led the series A round, did not participate.

Video sharing is a crowded sector with Musical.ly the front runner. But Dubsmash continues to grow, with TechCrunch reporting that its adding a million new users every five days and has surpassed 140 million downloads, double that of the same time last year.

Comments

Dubsmash Adds $9.6 Million For Viral Music Video Lip-Sync App

[UPDATED] Dubsmash has added $9.6 million in funding to expand its popular music video lip-sync app. Fan generated music videos have become a major marketing tool for labels and artists. But will revenue to rights holders follow?